Albert Einstein once said, “We can’t solve problems by using the same kind of thinking when we created them.”
My patients need to change their mindsets, and tear down repressive obstacles impeding growth.
The person who honestly accepts accountability also enjoys the psychological salves provided by virtue, integrity, dignity, and honor. He is better able to develop a moral compass when he is no longer repressing his morality.
In the deepest recesses of the mind, no one is above personal reproach. No matter how we act, we can know better at certain points in our life. And, only through internal honesty are we able to navigate morally ambiguous situations. Many FPs explore and discuss this phenomenon “at the end of the month” when production stats are posted. Many are challenged at this juncture; they have obligations and bills to pay.
There is an adage that says the man who can anger you, can control you. When you aspire towards virtuosity, integrity, dignity, and honor, you reinforce your sense of self and as a result you are not as easily angered and manipulated.
This state of being does not come from a blog, a book, a lecture series, or a web site.
It comes from within.
Here is a refresher on the key virtues of Integrity, Dignity, and Honor.
INTEGRITY
Integrity is an often misunderstood word. Integrity comes from the Greek words “integritas” and “integra,” which mean whole. In essence, integrity encompasses a sense of wholeness gained through consistency of character. An individual who has integrity is one who consistently strives to be faithful in action to his principles, often in the face of great adversity.
An individual may have a core belief system, but lacks the strength of character and the integrity to consistently act according to his principles. In some instances, acting contrary to the core principles the individual espouses is akin to hypocrisy, even cowardice.
Anyone can be virtuous when it is convenient. Virtuosity in the face of physical or emotional harm, or under threat of financial loss, is integrity.
Ultimately, who would you trust in a dangerous situation: a competitor that is consistently truthful, or a colleague that is frequently dishonest? This dilemma is the essence of integrity.
DIGNITY
The ancient Greeks had an excellent awareness of basic human rights. These tenets are manifested in the Enlightenment-era concept of dignity, that all human beings have inalienable rights to respect and ethical treatment. Dignity is closely associated with the right to virtue and autonomy.
Conversely, in Greece there developed the concept of hubris (ancient Greek ὕβρις), referring to actions that humiliated the victim for the pleasure or gratification of the abuser. Hubris is an exaggerated arrogance, approaching narcissism, common in the financial services industry. It eschews empathy, tolerance and respect.
However, blinded by arrogance, the hubristic protagonist hastens his own downfall. Many recent Wall Street players have personified this phenomenon. They are commonly known: Madoff, Drier, Fuld, Lay, et al.
Dignity is the preservation of the self through the appreciation of the rights of others. It is also important to note that rehabilitation means literally to restore dignity. The Wall Street Psychologist’s Gyroscope Methodology creates and maintains dignity for financial professionals.
HONOR
Honor (derived from the Latin honoris) is the appraisal of the individual’s moral character, based on words and deeds. Honor can be considered the sum of virtues and integrity. In many cultures, honor is integral in social stratification, and individuals are assigned a certain station, in part, based on adherence to an honor code. In the context of relationships among men, honor it is more often a justifying component of power, while with women, honor has more to do with chastity and fidelity.
In the financial services industry, contractual obligations and regulations long ago supplanted the widespread adherence to codes of honor. To act honorably, in the spirit of fairness, may place the individual at the mercy of those who would exploit every loophole and questionable tactic for an advantage. In stark contrast, since 1801 the motto of the London Stock Exchange has been dictum meum pactum. From the Latin, this translates as My Word is My Bond .
Honorable actions are extensions of virtuous behavior and when applied with integrity (consistently) do much to enhance the reputation of the individual, thereby increasing the value of relational assets. And ultimately the capacity to really make money. One must trust people with who one does business. Bottom line: integrity, dignity, and honor pay off beyond imagination in terms of self respect, professional and personal achievement, and ultimately in terms of dollars earned in business.